US Banks Warned by Feds About Risks Tied to Illegal Migrant Workforce

US banks warned by feds about risks tied to illegal migrant workforce

U.S. financial institutions reported $2.5 billion in suspicious activity in 2025, linked to alleged payroll schemes.

Treasury cracks down on illegal alien payroll fraud, urges banks to protect American workers and taxpayers

WASHINGTON — The Treasury Department’s Financial Crimes Enforcement Network on Friday urged financial institutions to heighten vigilance against schemes that use the U.S. banking system to pay and exploit illegal aliens, part of the Trump administration’s broader push to secure the nation’s borders and financial integrity. In an advisory issued jointly with the Federal Deposit… The post Treasury cracks down on illegal alien payroll fraud, urges …